\"End

End is nigh? Ireland's Central Bank says Ireland could be on way out of recession

Irish Central Bank says Ireland will exit recession in 2010

\"End

End is nigh? Ireland's Central Bank says Ireland could be on way out of recession

The Irish Central Bank says Ireland should exit recession in the second half of 2010.

However, the bank said the recovery would be export-led and that Irish workers would see their pay packets shrink or stay stagnant to help pay for the recovery.

It said Ireland needed to become more competitive and said fees charged by the so-called professionals (doctors, dentists, lawyers, etc) were far too high.

It also warned that health care, health insurance, utilities and public transport were all far too expensive.

"Lowering the costs of doing business in Ireland represents a necessary adjustment and would leave the economy better placed to benefit from a global economic upturn," it said.

The bank expects the jobless rate to top out at 13.5 percent instead of the former forecast of 14 percent.

COMMENTS

Log in with your social accounts:

Or, log in with your IrishCentral account:

Forgot your password ?

Don't have an account yet? Register now !

Join IrishCentral with your social accounts:


Already have an account ?

For Newsletter Subscribers – Draw for 1 Prize on December 31st.

Prize: Your Piece of Ireland – a Square of Land in the heart of the Glens of Antrim, Ireland

More details here (or you can buy a little piece of Ireland directly): http://bit.ly/1zew9ox

Terms & Conditions

Or, sign up for an IrishCentral account below:

By clicking above you are indicating that you have read & agree to our Terms and Privacy Policy.


Make sure we gathered the correct information from you

By clicking above you are indicating that you have read & agree to our Terms and Privacy Policy.


You already have an account on IrishCentral! Please confirm you're the owner.


Our new policy requires our users to save a first and last name. Please update your account: